Arclin launches $692 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, Feb. 11 – Arclin was scheduled to hold a lender call at 2 p.m. ET on Thursday to launch a $692 million covenant-lite first-lien term loan (B2/B) due February 2026 that is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99.51, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Credit Suisse Securities (USA) LLC and RBC Capital Markets are the joint lead arrangers on the deal.

Commitments are due at 5 p.m. ET on Feb. 18, the source added.

Proceeds will be used with balance sheet cash to refinance existing first- and second-lien term loans and fund a distribution.

The existing $532 million first-lien term loan is due February 2024 and priced at Libor plus 350 bps with a 1% Libor floor.

Arclin is an Atlanta-based provider of surface overlay solutions and performance resins.

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